The founder and CEO of Compound is Robert Leshner. Compound is an ERC-20 based De-Fi, an open-access smart contracts system. Compound facilitates crypto lending transactions.
Compound locks the crypto balances of borrowers with the protocol and brings together crypto lenders on the same platform. The interest rate to be charged from borrowers and defined for lenders changes according to the supply-demand balance of the lent crypto. The interest rate is updated with each new block created. The loan amount can always be repaid, and the lent amount can always be withdrawn to your account.

The Compound lending system, in general, is not different from other lending and borrowing protocols. The difference lies in the system where assets locked are converted into Compound tokens.
In the Compound system, the cToken generally represents the collateralized token as a new token while it is locked. When you give your Ethereum balance to the Compound system, it holds your asset as a cToken and lends it out. You can withdraw your collateralized cryptocurrency, in this case, Ethereum, along with the interest earned, whenever you want.
The crypto assets you lend are taken as collateral and signed as cToken before entering the system.
The interest rate for the type of cryptocurrency you collateralize is determined by the market's supply-demand balance.
Although the Compound protocol is currently centralized, its founder has stated that it will become decentralized in a short period.
Through the Compound protocol, you can lend as well as borrow cryptocurrency by keeping a certain value of collateral in your wallet. If your loan is not paid, your collateral will be seized.

COMP is the cryptocurrency used for the governance of the Compound management system. Owners of the COMP cryptocurrency will have voting rights for changes and updates to be made in the Compound protocol.
A total of 10,000,000 COMP cryptocurrencies will be released to the market. The current total supply is 2,561,279 COMP.

When you give your crypto assets as collateral to the Compound protocol, a certain amount of cToken is earned based on the amount of collateral and the supply-demand balance of the collateralized cryptocurrency. You can withdraw your collateral at any time along with the principal and interest income to your account.

In Turkey, buying Compound with Turkish Lira is surprisingly easy and fast. You can buy Compound without needing any technical knowledge or official documentation.